Can Tho in dire need of international shipping routes A vessel heads for Tan Cang-Cai Cui Port in Can Tho City Although the Government has allowed Can Tho City to expand its logistics center to 242 hectares from the current 75 hectares, the center cannot develop without international shipping routes allowing the city to directly ship goods abroad, said Nguyen Minh Toai, director of the municipal Department of Industry and Trade. At a seminar on development of Can Tho City’s logistics network by 2020, with a vision to 2030, in the city today, February 20, Toai said that Can Tho needs to launch shipping routes through Quan Chanh Bo Canal and Dinh An Estuary to develop a modern logistics center in the city. It costs US$10 to transport each container of goods from Can Tho to Cat Lai Port in HCMC or to Cai Mep-Thi Vai Port in Ba Ria-Vung Tau Province, he said, and the cost is even higher if shipping containers are carried further away. If goods are directly shipped from the … [Read more...] about BUSINESS NEWS IN BRIEF 22/2
Vietcombank ho chi minh city branch
Vietnamese banks issue bonds galore as credit demand rises
BIDV, Vietnam's biggest bank by assets, has approved the issuance of 400,000 bonds to raise VND4 trillion ($170.5 million), of which VND3 trillion ($127.88 million) are in 7-year bonds and VND1 trillion ($42.62 million) in 10-year bonds. Previously, the State Bank of Vietnam had allowed BIDV to issue a maximum of VND20 trillion ($852.59 million) worth of bonds this year. Similarly, Vietcombank, the third largest bank in the country by assets, has successfully raised VND550 billion (23.44 million) through the issuance of individual bonds at VND100,000 ($4.26) per bond. The bonds mature in six years, and carry a 7.4-percent annual interest rate. Among many other banks that have raised capital through bonds in 2018 is VietinBank, which has successfully completed a second bond issue this year, raising VND450 billion ($19.18 million) from 2-year bonds with fixed 6-percent interest. Last July, VietinBank, the country’s second largest lender by assets, … [Read more...] about Vietnamese banks issue bonds galore as credit demand rises
BNP Paribas accompanies banking development in Vietnam
(VEN) - Aymar De Liedekerke Beaufort, who heads BNP Paribas in Vietnam, explained why the country was attractive to foreign banks, and how his bank has contributed to the nation’s growth. Bamboo Bike Cycling in Mekong Delta (CSR event of BNP Paribas Ho Chi Minh City Branch in 2017) Having been in Vietnam since 1989, what do you think about the development of the banking industry in the country? Tremendous efforts have been made by the State Bank of Vietnam over the past few years to improve the quality of the balance sheets of many commercial banks. The Vietnamese banking industry has therefore become healthier and is a key player in supporting Vietnam’s gross domestic product (GDP) growth. Credit growth is something we carefully look at and BNP Paribas Vietnam’s credit growth mirrored Vietnam’s significant 18 percent Credit Growth in 2017. The Vietnamese banking industry is very well positioned to implement and follow Basel II … [Read more...] about BNP Paribas accompanies banking development in Vietnam
M&A boom offers big chance for Vietnam’s consulting firms
The Hanoitimes - Being among the most attractive destinations in ASEAN for mergers and acquisitions (M&As), Vietnam has been also a fruitful land for M&A consulting service providers. Data showed that the total numbers of M&A deals and value in Vietnam surged sharply by 22 percent and 15 percent annually, respectively, in the 2007-2017 period. The country’s M&A market hit over the US$10-billion landmark for the first time last year, up 78 percent against the previous year. M&A value in the country continued to rise 55 percent year-on-year to reach US$3.55 billion in the first six months of this year. The acquisition of Sabeco by ThaiBev was Vietnam’s largest M&A deal last year Under the steady growth market, local consulting firms, mainly securities companies, have embraced great opportunities in providing M&A consulting services, mainly for the sellers. Bao Viet Securities Co (BVSC) has so far successfully consulted on big … [Read more...] about M&A boom offers big chance for Vietnam’s consulting firms
M&A: Fertile land for consultancy services
Animated M&As across the board provides enormous opportunities for local consulting industry Statistics show that the Vietnamese M&A market saw an average 22 per cent jump in the number of transactions and 15 per cent hike in transaction value during 2007-2017. The deal value stood at $5.8 billion in 2016 before touching $8 billion last year, turning Vietnam into one of the most robust M&A markets in Asia. According to Tran Hai Ha, general director of Military Bank Securities JSC (MBS), as market intermediary entities, securities firms are seeing myriad opportunities in M&A consultancy. Local securities firms are proactively engaging in M&A through the provision of business finance and M&A consultancy services. Ha said that MBS is expediting several M&A deals in the fast-moving consumer goods (FMCG), petroleum, transport, seaport, hospital, food and beverage, basic materials, energy (hydropower and new energy sources), finance and insurance. The … [Read more...] about M&A: Fertile land for consultancy services